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Referencing firm launches initiatives as tenancy fraud attempts ‘double’

Homeppl chief says new tech can spot fake banking paperwork and spot multiple fraud attempts by a single criminal across its network.

Nigel Lewis

tenancy fraud

Referencing platform Homeppl has launched two additional lettings fraud detection technologies to help agents spot tenancy fraudsters as it reveals a 100% increase in fraud during the final quarter of last year.

The first new tech looks at typographical differences in documents and compares them with those used by leading banks to spot fake bank account statements, while the other looks across the company’s referencing activities on behalf of letting agents and landlords to spot criminals making multiple attempts to gain access to properties using fake identities and documents.

Homeppl says the new technologies are in addition to its existing applicant screening and referencing fraud capabilities.

Fraud boom

The company believes fraud is one of the key challenges facing letting agents as the pandemic has initiated a boom in Airbnb short-lets in many tourist hotspots, and the continuing difficulties landlords have evicting tenants via the lengthy court possessions process – which has left the door open for criminals to gain access to properties for long periods without paying rent.

Homeppl says it saw a 100% increase in attempted fraudulent activity during the last three months of last year.

referencing siedes image“It is no secret that the rental sector is a fast-moving and challenging landscape for agencies to manage today – couple this trend with an unprecedented volume of rental fraud – and it makes for a difficult space for both agencies and landlords to navigate,” says the company’s CEO and founder Alexander Siedes (pictured).

“The growing volume of fraud is having a detrimental downstream impact on landlords and agencies at such an active time for the sector. “These two new product developments offer our clients with additional peace of mind that their renters are being screened swiftly, accurately and with no risk that fraudsters will slip through the net.”

Read a recent TPO rent fraud case.

 

February 9, 2022

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